What Wus Printed Circuit does

WUS Printed Circuit (Kunshan) Co., Ltd. is a Chinese printed circuit board manufacturer founded in 1992 in Kunshan, Jiangsu Province, and listed on the Shenzhen Stock Exchange SME Board (stock code 002463, abbreviation Hudian Shares). The company produces high-layer, high-density interconnect (HDI) printed circuit boards for AI servers, data centers, autonomous driving, telecommunications infrastructure, power supply, and industrial applications. WUS claims the world's largest share of PCBs for data centers (10.3% global market share) and leadership in high-end HDI PCBs used in autonomous driving (15.2% global market share), with a workforce of 10,000+ employees supporting operations anchored in Kunshan.

The company's core product portfolio spans backplanes (up to 64 layers, max panel size 24x48 inches), line cards (up to 40 layers), server PCBs (up to 34 layers optimized for AI workloads), antenna PCBs supporting sub-6 GHz and mmWave frequencies (in production since 2002), and hybrid solutions. A strategic technology focus is the co-development with NVIDIA of next-generation CCL material M10 for AI server PCBs, with mass production targeted for H2 2027. The company is also expanding advanced HDI manufacturing capacity through a RMB 5.5 billion investment program to capture AI-driven demand.

WUS operates a B2B direct enterprise sales model, selling quote-based PCB hardware to OEMs and Tier-1 suppliers across automotive, computing, telecommunications, and industrial sectors. Revenue grew 57% year-on-year in H1 2025 with 49% profit growth, and the company filed for a Hong Kong IPO in December 2025 to broaden its global investor base. Manufacturing economics are capital-intensive: Q1 2026 capex reached RMB 1.5 billion (US$221 million), more than doubled year-over-year, while the 2022 acquisition of a 57% stake in Schweizer Electronic (Jiangsu) extended the company's specialty PCB footprint.

Name

Wus Printed Circuit

Legal name

沪士电子股份有限公司 (WUS Printed Circuit (Kunshan) Co., Ltd.)

Website

https://wuscn.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

WUS Printed Circuit (Kunshan) Co., Ltd., founded in 1992, is a Chinese PCB manufacturer producing high-layer, high-density interconnect boards for AI servers, data centers, autonomous driving, and telecommunications. The company claims 10.3% global market share in data center PCBs and 15.2% in HDI PCBs for autonomous driving, and is a key NVIDIA supplier.

Ownership category

akta.pro rank

Product category

Printed Circuit Board Manufacturing

NAICS

Bare Printed Circuit Board Manufacturing (334412), Printed Circuit Assembly (Electronic Assembly) Manufacturing (334418)

SIC

Printed Circuit Boards (3672), Electronic Connectors (3678)

akta.pro primary industry

Printed Electronics & Advanced Substrates (HDI, IC Substrates, Embedded Components) (HDAHAOAK)

akta.pro secondary industries

PCB Fabrication (Rigid PCBs) (HDAHAOAG), PCB Assembly (PCBA/EMS) (HDAHAOAI)

Keywords

• Printed circuit boards
• High-density interconnect
• AI server PCBs
• HDI PCB manufacturing
• Data center backplanes

Headquarters

HQ city

Suzhou

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. PCB Manufacturing and Sales: WUS Printed Circuit generates revenue through the manufacture and sale of printed circuit boards across multiple applications including AI servers, data centers, automotive, telecommunications infrastructure, power supply, and consumer electronics. Revenue has shown strong growth with 57% year-on-year growth and 49% profit growth in first half of 2025, driven by focus on high-end PCBs for AI servers and smart vehicles.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

WUS Printed Circuit manufactures and sells high-layer count (up to 64 layers) and high-density interconnect (HDI) printed circuit boards, including backplanes, line cards, power amplifiers, antennas, server boards, and hybrid PCBs. Its products serve AI servers and data centers, autonomous driving, telecommunications, and industrial/computing applications. The company is the world's largest maker of PCBs for data centers with 10.3% market share and the leader for high-end HDI PCBs in autonomous driving with 15.2% market share.

Product overview

WUS Printed Circuit (Kunshan) Co., Ltd. is a printed circuit board (PCB) manufacturer established in 1992 and listed on the Shenzhen Stock Exchange (stock code: 002463). The company operates a multi-product portfolio centered around high-layer, high-density, and high-speed PCBs. Its core product line includes BP (Backplane) PCBs supporting up to 64 layers, LC (Line Card) PCBs with up to 40 layers, PA (Power Amplifier), ANT (Antenna) solutions for 5G mmWave applications, and Server Products optimized for AI/data center applications. These products serve key verticals including automotive (autonomous driving systems with 15.2% market share), data centers (world's largest maker with 10.3% market share), telecommunications infrastructure (wireless and wired), power supply, industrial, and consumer electronics. The company is currently expanding capacity for advanced AI server PCBs, including testing next-generation M10 CCL materials with NVIDIA for mass production planned in H2 2027.

Differentiator

Problem solved

Functional benefit

Products and services

• BP (Backplane)

Quantifiable outcome

• World's largest PCB maker for data centers with 10.3% market share
• +3 more outcomes

Named customers2 records

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Schweizer Electronic AGminorStrategic or Co-development Partner · 22 December 2022Schweizer Electronic AG signed an agreement to sell approximately 57% of its shares in Schweizer Electronic (Jiangsu) Co., Ltd. to WUS Printed Circuit (Kunshan) Co., Ltd. The transaction involves Chinese companies based in Jintan and Kunshan.
• NVIDIAcoreTechnology or IntegrationWUS Printed Circuit (Kunshan) is a confirmed NVIDIA supplier. WUS and NVIDIA have begun testing next-generation CCL material M10 for AI server PCBs, with mass production targeted for H2 2027 pending successful test results. NVIDIA and its key customers are bypassing traditional CCL manufacturers to lock in upstream PCB capacity.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Tripod Technology Corp. Taiwan-based PCB manufacturer focused on multi-layer and HDI boards for automotive, telecom, and computing. Directly competes with WUS in high-end HDI products.
• AT&S (Austria Technologie & Systemtechnik): European-headquartered advanced PCB and IC substrate manufacturer with strong presence in AI server substrates and high-end PCBs. Competes with WUS in advanced server PCB and substrate market.
• Shennan Circuits Co., Ltd. China-based PCB maker specializing in high-layer, high-density backplanes, line cards, and substrate-like PCBs for communications, data center, and automotive customers. Directly competes with WUS in telecom and data center PCB.
• Zhen Ding Technology Holding: One of the world's largest PCB manufacturers, with growing exposure to high-end HDI and substrate-like PCBs for AI servers and mobile. Competes with WUS in advanced PCB capacity expansion.
• Unimicron Technology Corp. Taiwan-listed leading PCB and IC substrate manufacturer with substantial high-layer-count and HDI capacity serving AI servers, data centers, and networking. A direct competitor to WUS in advanced PCB for AI infrastructure.

Broad incumbents

• Ibiden Co., Ltd. Major Japanese IC substrate and PCB manufacturer with broad portfolio across electronics packaging. Competes with WUS in high-end substrate and PCB for servers and mobile.
• TTM Technologies, Inc. US-based broad PCB manufacturer serving aerospace, defense, automotive, and data center customers. Overlaps with WUS in data center and high-end PCB applications.
• Nippon Mektron, Ltd. Japanese flexible PCB leader with growing capabilities in high-end multi-layer boards. Competes with WUS in advanced PCB for automotive and consumer electronics.

Others

• Shengyi Technology Co., Ltd. Largest China-based copper-clad laminate (CCL) manufacturer — a key upstream material supplier for PCB makers including WUS. Highly relevant as WUS is testing next-generation M10 CCL material.
• Kingboard Laminates: Major Hong Kong/China-based CCL and laminate supplier serving the global PCB industry. Upstream materials peer relevant to WUS's PCB manufacturing economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/wus-printed-circuit-kunshan-co-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wus Printed Circuit